Grant alert – Export Market Development Grant
AusTrade’s flagship Export Market Development Grant (EMDG) is transitioning from a retrospective reimbursement to an upfront grant agreement, providing greater certainty and support for businesses that look to expand to foreign markets.
The change will fundamentally alter how applications are made and managed, impacting every business that is currently accessing the scheme.
Key changes include:
- Transitioning to an up-front agreement model, with funding agreed in advance
- Introduction of funding ‘tiers’ for businesses at different stages of their export journey
- Life-time cap of $770,000 grant funds receivable per business through the EMDG program
- Reduction in the turnover cap for eligibility – Businesses must have a turnover of less than $20M to access the fund
What is the impact of this change?
Businesses that are currently accessing the EMDG scheme, or are looking to execute their export strategy in the coming years should be acting now to assess their eligibility for this revised EMDG program.
Prior to submitting an EMDG grant application for planned promotional expenditure, businesses will need to self-assess their eligibility to the updated program and determine which funding tier they should be applying to. Tiers include:
Tier 1: for eligible SMEs who are ready to begin exporting – grants of up to $40,000 per financial year for 2 years
Tier 2: for eligible exporters who plan to expand their exporting – grants of up to $80,000 per financial year for 3 years
Tier 3: for eligible exporters who plan to make a strategic shift in their export activities – grants of up to $150,000 per financial year for 3 years
Eligible expenses incurred up to 30 June 2021 will be claimable under the existing scheme, with applications open from 1 July 2021 through to 30 November 2021.
Applications for ‘forward looking’ EMDG grants for the 2021-2022 year must be made between 16 August 2021 and 30 November 2021.
How can SW assist?
Applications for the revised EMDG scheme will initially run alongside the existing EMDG program, increasing the complexity for applicants once the program opens for applications.
The EMDG process is highly complex and rigorous, and never more so than this year! SW’s team of Government Incentives experts can assist you in determining your eligibility, produce high-quality funding applications and maximise your chance of funding success.
Get in touch
To learn more and find out how you can seize the opportunity, contact one of our experts below.